Building a bridge across CBA traditions: the contribution of EU Regional Policy
This paper presents the basic principles of the EU approach to cost-benefit analysis (CBA) of infrastructure projects, as embodied in the recently issued CBA Guide. After an introduction about the objectives and instruments of the 2007-2013 EU Cohesion Policy, and in particular the legal framework for co-financing environmental and transport projects, the paper illustrates and discusses some methodological choices which have been made by the team authoring the EC Guide. Some 'rules of the game' (i.e. the use of shadow prices, the calculation of a proper shadow wage, the monetisation of non-market impacts, the choice of a social discount rate and the use of welfare weights) have been proposed in the Guide, in the light of regional differences in market conditions and welfare objectives of the EU regional development policy. The analysis shows that, differently from well-known national traditions of Cba in Europe (an explicit comparison is made with the British 'Green Book') the EU perspective calls for a general framework which is not so different from the project appraisal practice in less developed countries.
|Date of creation:||17 Jul 2008|
|Contact details of provider:|| Postal: Corso Monforte 15, 20122 Milano MI|
Phone: + 39 02 796630
Fax: + 39 02 780703
Web page: http://www.csilmilano.com/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chiara Del Bo & Massimo Florio & Carlo Fiorio, 2009.
"Shadow wages for the EU regions,"
UNIMI - Research Papers in Economics, Business, and Statistics
unimi-1090, Universitá degli Studi di Milano.
- Bev Dahlby, 2008. "The Marginal Cost of Public Funds: Theory and Applications," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262042509.
- Massimo Florio, 2006. "Cost-benefit analysis and the European union cohesion fund: On the social cost of capital and labour," Regional Studies, Taylor & Francis Journals, vol. 40(2), pages 211-224.
- Sapir, Andre & Aghion, Philippe & Bertola, Giuseppe & Hellwig, Martin & Pisani-Ferry, Jean & Rosati, Dariusz & Vinals, Jose & Wallace, Helen, 2004.
"An Agenda for a Growing Europe: The Sapir Report,"
Oxford University Press, number 9780199271498, December.
- André Sapir & Philippe Aghion & Giuseppe Bertola & Martin Hellwig & Jean Pisani-Ferry & Bernard Lange & José Viñals & Helen Wallace & Marco Buti & Mario Nava & Peter Smith, 2004. "An agenda for a growing Europe: the Sapir report," ULB Institutional Repository 2013/8070, ULB -- Universite Libre de Bruxelles.
- Michela Cella & Massimo Florio, 2007. "Hierarchical contracting in grant decisions: ex-ante and ex-post evaluation in the context of the EU Structural Funds," UNIMI - Research Papers in Economics, Business, and Statistics unimi-1059, Universitá degli Studi di Milano.
- Nigar HASHIMZADE & Gareth MYLES, 2009. "Cost-benefit analysis and the marginal cost of public funds," Departmental Working Papers 2009-29, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Massimo FLORIO, 2006. "Multi-government cost-benefit analysis: shadow prices and incentives," Departmental Working Papers 2006-37, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
- Michela Cella & Massimo Florio, 2009. "Hierarchical contracting in grant decisions: ex-ante and ex-post evaluation in the context of the EURegional Policy," Working Papers 171, University of Milano-Bicocca, Department of Economics, revised Jun 2009.
When requesting a correction, please mention this item's handle: RePEc:mst:wpaper:200908. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marinella Manghina)
If references are entirely missing, you can add them using this form.